Global wine shortage looms: Should you hoard bottles?

CLEVELAND - If you love wine, you might want to start stockpiling your favorite bottles.

According to a report from Morgan Stanley Research, the wine industry is experiencing an undersupply of nearly 300 million cases a year, and that's not enough to keep up with worldwide demand.

Researchers said global production of wine dropped by more than 5 percent last year, mostly due to bad weather in France and Argentina.

Americans consume 12 percent of the world's wine, but produces just 8 percent.

The French drink more wine than any other country, according to the report.

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